The trend of shorter working days and longer vacations is expected to reversed in most
wealthy countries in the future.
Use the table below to determine autonomous consumption spending.
a. $0
b. $100
c. $180
d. $200
e. $1,000
The aggregate demand curve tells us equilibrium real GDP at any price level.
Anti-trust law
Which of the following is true? The federal government’s budget
a. was always in surplus until the 1980s
b. is in deficit now but has been in surplus in most of the past 40 years
c. has been virtually perfectly balanced for the past 5 years
d. deficit has averaged around zero for the last several decades
e. switched from deficits to surpluses in the late 1990s
The equilibrium level of GDP can be determined by finding the output level at which
the unplanned change in inventories is
a. greater than aggregate expenditures
b. less than aggregate expenditures
c. zero
d. equal to government expenditures
e. equal to consumer spending
Variable inputs are those whose
The efficient quantity of a good
The law of demand states that the quantity demanded of a good and
When long-run average total cost increases as output increases, a firm experiences